BofA raised the firm’s price target on Progressive (PGR) to $344 from $339 and keeps a Buy rating on the shares. July operating EPS of $1.75 came in “well ahead” of sell-side expectations and the firm’s $1.49 estimate, the analyst tells investors. The firm’s target raise reflects both an expansion in the year-ahead S&P 500 P/E multiple and its underwriting margin-normalized 2027 forecast that now stands at $16.16, up from $16.13 previously.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PGR:
- Progressive’s Strong Financial Performance and Underwriting Results Justify Buy Rating Despite Short-Term Growth Challenges
- Progressive Releases July 2025 Financial Results
- Progressive reports July EPS $1.85 vs. $1.38 last year
- Progressive’s Stock: Balancing Attractive Valuation with Growth Challenges – Hold Rating
- Progressive price target lowered to $281 from $287 at Barclays